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In the Name of God بسم الله

Ethical stocks to buy in Canada


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Salam

I was just wondering about ethical/ halal companies in Canada whose stocks one can buy. By ethical I mean those companies which are: 

  • Not supporting Israel 
  • Not engaged in intoxicants
  • Not engaged in other obviously un-Islamic practices (gambling etc...)

You get the idea...

Also please feel free to share any rulings regarding stock trading and "halal" stocks from jurists

 

Thanks!

 

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  • 3 weeks later...
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Wa alaikum as salam.  I don't know much about the stock market although I have heard that there are halal investment portfolios available in the way that you describe. 

What I can say is that if you are looking for a halal way to invest your money consider real estate. You can even invest smaller amounts in larger real estate projects with safe but steady returns (6% annual return for example) 

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Posted (edited)
On 6/7/2024 at 6:57 AM, Abu_Zahra said:

Wa alaikum as salam.  I don't know much about the stock market although I have heard that there are halal investment portfolios available in the way that you describe. 

What I can say is that if you are looking for a halal way to invest your money consider real estate. You can even invest smaller amounts in larger real estate projects with safe but steady returns (6% annual return for example) 

Thanks a lot @Abu_Zahra

Do you know of reliable platforms for real estate trading in Canada (I am currently using wealthsimple, couldn't find real estate instruments there). 

I checked the halal ETF available on wealthsimple, abbreviated as WSHR.  The following is the criteria they seem to use to include companies in their fund (source: https://www.wealthsimple.com/en-ca/managed-investing/halal-portfolio)

"Every company in our fund (WSHR) derives less than 5% of their income from alcohol, tobacco, pork-related products, weapons, conventional banking or insurance companies and adult entertainment." 

Is that ok? What would our jurists say about the 5% threshold? Is it too strict, or too lenient?

Also, here is the list of companies the fund includes: https://help.wealthsimple.com/hc/en-ca/articles/1500011334461-What-stocks-are-held-in-the-Wealthsimple-Shariah-World-Equity-Index-ETF-WSHR

It has some serious bad boys in terms of Israeli support -Coca Cola and Nestle, among others.

Any thoughts? 

Edited by hello_0
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